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Ch. 23
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PARRIS N. GLENDENING, Governor
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(II) THE STATUS REPORT SHALL STATE WHETHER THE ANNUAL
RESULTS MEET OR EXCEED THE RESULTS PROJECTED IN THE RISK BASED CAPITAL
PLAN AND SHALL DESCRIBE ANY APPROPRIATE MODIFICATION OR ADJUSTMENT TO
THE PLAN; AND
(3) IF THE FUND'S RISK BASED CAPITAL EQUALS OR EXCEEDS 100% OF
THE COMPANY ACTION LEVEL REQUIRED UNDER TITLE 4, SUBTITLE 3 OF THE
INSURANCE ARTICLE, THE FUND MAY NOT BE REQUIRED TO FILE A RISK BASED
CAPITAL PLAN FOR THAT YEAR
(F) THE FUND MAY EXCLUDE PREMIUM GROWTH ASSOCIATED WITH THE
RESIDUAL MARKET BUSINESS IN ANY RISK BASED CAPITAL CALCULATION IF THE
INSURANCE COMMISSIONER APPROVES THE DEFINITION OF RESIDUAL BUSINESS
USED BY THE FUND.
Chapter 567 of the Acts of 2000
SECTION 2. AND BE IT FURTHER ENACTED, That the Insurance
Commissioner shall examine the financial condition of the Injured Workers'
Insurance Fund and ensure that the Fund satisfies the solvency standards for a
workers' compensation insurer in this State AND HAS CAPITAL IN EXCESS OF THE
AMOUNT THAT WOULD TRIGGER A COMPANY ACTION LEVEL EVENT UNDER § 4-305
OF THE INSURANCE ARTICLE, before the Fund may become a member of the Property
and Casualty Insurance Guaranty Corporation.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2002.
Approved April 9, 2002.
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CHAPTER 23
(Senate Bill 388)
AN ACT concerning
Maryland Group Health Insurance Plan - Repeal
FOR the purpose of repealing certain provisions that establish and provide for the
administration of the Maryland Group Health Insurance Plan; repealing a
requirement that the Secretary of Health and Mental Hygiene provide certain
notice regarding eligibility for the Plan to certain individuals in a certain
manner; and generally relating to the Maryland Group Health Insurance Plan.
BY repealing and reenacting, with amendments,
Article - Health - General
Section 4-217(f) and (g)
Annotated Code of Maryland
(2000 Replacement Volume and 2001 Supplement)
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